Another reason those fools should have kept quiet. - Galt's Gulch

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Another reason those fools should have kept quiet.

Posted by Robbie53024 11 years, 9 months ago to News

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Looks like the gov't is going to take it all.

SOURCE URL: http://gma.yahoo.com/10m-gold-coin-hoard-found-yard-may-stolen-141317823--abc-news-personal-finance.html?vp=1

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Posted by richrobinson 11 years, 9 months ago

They must have wanted the publicity. Oops.

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Posted by Abaco 11 years, 9 months ago

These people really are fools. Too bad, really. I like their desire to help others with this find because the government is obviously ready and willing to do that for them.

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  Posted by Robbie53024 11 years, 9 months ago
  
  Oh, yes. The government is going to help lots of people. The senators, the congressmen, the lobbyists, the bureaucrats, etc.
  
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Posted by iroseland 11 years, 9 months ago

I would expect that the "heisted" gold was insured. So, the mint would have been paid out from the insurance. Which means if anyone other than the finders have a claim to the gold it would be the insurance company that paid out.

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  Posted by Robbie53024 11 years, 9 months ago
  
  I doubt that a US Mint in 1900 was insured.
  
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    Posted by iroseland 11 years, 9 months ago
    
    I was thinking about that as I hit submit. Even if there were an FDIC it would not have applied... But, at the same time they were essentially wearing a target the boats hauling gold back from the gold rush were insured so I would expect the mint to want to guarantee its safety as well.. This is probably something that would be a bit of a pain to research..
    
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